Ask Question
10 December, 16:54

A toy manufacturing company currently produces 100 toys each day. The workers at that company earn $15 per hour. However, the government establishes a minimum wage of $24 per hour. The company cannot afford to keep all its workers, so it lays off some employees. How many people lose their jobs?

+5
Answers (1)
  1. 10 December, 18:26
    0
    Given:

    produces 100 toys each day

    workers at that company earn $15 per hour

    minimum wage of $24 per hour

    Required: How many people lose their jobs?

    Solution:

    assuming that in a day, 8 hours of work is required,

    100 toys per day (1 day / 8 hours) = 12.5 toys

    workers at that company earn $15 per hour (8 hours) = $120

    minimum wage of $24 per hour (8 hours) = $192

    120/192 x 100% = 62.5%

    100 - 62.5 = 37.5

    about 37.5% would lose their job
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A toy manufacturing company currently produces 100 toys each day. The workers at that company earn $15 per hour. However, the government ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers